2975-2951 N Marysville Blvd

Property ID: 2975-2951 N Marysville Blvd

15 unit residential community on three separate parcels, featuring five single-family houses and five duplexes, located in the North Sacramento area. The asking price of $77 per square foot, current cap rate around 7.16 percent and GRM of 8.34 represents an outstanding opportunity to acquire a well maintained property at a price far below replacement cost. The first parcel, on 1.05 acres, features three duplexes and one single-family home. The second parcel, on .92 acres, features four single-family homes and two duplexes. The third parcel is .18 acre of vacant land, which is zoned to build two units. Together the properties feature three two-bedroom/one-bath homes with 850-950 square feet, two three bedroom/two-bath homes with 950 square feet, one duplex with two two-bedroom/one-and-one-half-bath units with 850 square feet, and four duplexes with eight four-bedroom/two-bath units with 1,400-1,600 square feet. All units feature full-size washer and dryer hookups, backyards, dishwashers, and individual hot-water heaters.

The subject property in North Sacramento Area offers an investor the opportunity to acquire an asset in a supply constrained market which in time will experience increasing rents due to the lack of new construction and cost to build. What separates this property is its location with close proximity to shopping, dining, public transportation, expansive retail and an abundance of open space and recreational outlets. North Sacramento is less than 95 miles north of San Francisco and approximately 106 miles south of the world renowned Lake Tahoe area. Downtown Sacramento is a short 10-minute drive from the property.